Group 1 - The core issue facing traditional department stores is their decline, exemplified by the recent withdrawal of Guangbai Department Store from its East Mountain location while negotiating a lease extension for its Tianhe Zhongyi store [1][10] - Guangbai Tianhe Zhongyi store, which has been operational for nearly 20 years, initially planned to vacate by June 30 due to rising rents but has since managed to negotiate a rent reduction and extend its lease [2][4] - In contrast, Guangbai East Mountain store has officially closed, with all branding removed and plans for redevelopment into "East Mountain Future" by the property owner [5][6] Group 2 - The struggles of Guangbai reflect broader challenges in the department store sector, which is facing competition from e-commerce and a shift towards more experiential and diversified retail formats [11][10] - Guangbai has previously invested 58.17 million yuan in renovations to adapt to market demands, including introducing experiential elements like gaming and dining options [12][10] - The East Mountain store's closure signifies a shift away from traditional department store models, as the new development will focus on a mixed-use approach that includes shopping, dining, and entertainment [9][10] Group 3 - Guangbai's Beijing Road store has successfully transitioned into a modern retail space, showcasing the potential for department stores to adapt and thrive by integrating dining and entertainment [14] - The parent company, Guangzhou Lingnan Tourism Investment Group, is actively pursuing new projects, including a significant investment in a commercial property that will move away from traditional department store formats [15][14] - The transformation of Guangbai and its parent company serves as a case study for the retail industry, illustrating the need for adaptation and innovation in response to changing consumer preferences [16][10]

Core Viewpoint - The Lanzhou Xidan Shopping Mall, a significant retail project in Lanzhou for 22 years, will officially close on July 31, 2025, due to the expiration of its lease, reflecting broader challenges in the commercial real estate sector in Lanzhou [2][4][6]. Company Summary - Lanzhou Xidan Shopping Mall opened in 2003 with a total operating area of approximately 45,000 square meters, offering a variety of functions including department stores, supermarkets, and children's entertainment [6][7]. - The mall aimed to establish itself as a fashionable department store by promoting international brands and creating a diverse shopping experience [6]. Industry Summary - The mall was located in a prime area of the Xiguan business district, benefiting from high foot traffic, especially after the opening of the subway line in 2019, which enhanced accessibility [7]. - At its peak, the mall recorded an average daily foot traffic of over 50,000 visitors and a single-day sales record exceeding 4 million yuan [7]. - The competitive landscape in the Xiguan business district includes high-end retailers and popular shopping streets, which has intensified competition for traditional department stores like Lanzhou Xidan [7][8]. - Traditional retail in Lanzhou is facing significant challenges due to urban expansion and changing consumer preferences, leading to a decline in competitiveness for older shopping centers [8][9]. - The future of Lanzhou's commercial landscape is expected to shift towards integrated shopping experiences that combine retail, social interaction, and cultural engagement, moving away from traditional department store models [9].